Desmond takes the long view on diamond deals
The Canadian diamond mine backed by Dermot Desmond has sold its first gems, but the sale was a less than glittering success
The formation of diamonds is a study in pressure and time.
Similarly, investing in diamond mines requires the investor to have vast reserves of patience and the ability to manage significant pressure.
If anyone knows this, it’s canny billionaire Dermot Desmond, whose three-decade-long investment in his potentially billion-dollar Canadian mine has hit a stumbling block.
Desmond owns a 23 per cent stake in Mountain Province Diamonds, which is drilling for diamonds in Canada’s ...
